(Adds details on IPO withdrawal in paragraph 2, context in paragraphs 3, 4)
Dec 27 (Reuters) - Australia's CAR Group (CAR) said on Wednesday that its unit Encarsales.com is withdrawing its eligibility review application with the Korea Stock Exchange for an initial public offering.
The online auto classifieds firm said unfavourable equity market conditions led to the decision to withdraw the unit's application.
South Korean auto marketplace Encarsales.com had filed the application for an IPO in late September, in a bid to elevate its local appeal. Australian firm CAR Group expanded its operations to South Korea, taking full control of the Encarsales.com joint venture in 2017.
Elevated interest rates and ongoing geopolitical uncertainty have resulted
in a halt in public listings
of companies in the Asia Pacific region.
News: CAR UPDATE 1-Australia's CAR Group unit withdraws application for South Korean IPO
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
$37.00 |
Change
-0.130(0.35%) |
Mkt cap ! $13.98B | |||
| Open | High | Low | Value | Volume |
| $37.04 | $37.13 | $36.28 | $38.79M | 1.053M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 641 | $37.00 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $37.09 | 574 | 1 |
View Market Depth
| Last trade - 16.10pm 08/08/2025 (20 minute delay) ? |
| CAR (ASX) Chart |